FAIR VALUE ACCOUNTING (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring (at least annually) or nonrecurring basis by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Refer to Note 13 to the Consolidated Financial Statements included in Part II, Item 8, of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 19, 2026, for further information on the Company's assets and liabilities included in the fair value hierarchy presented below.


	Fair Value at June 30, 2026
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents (1)	$	9,009	$	9,009	$	—	$	—
Restricted cash	34		34		—		—

Trade receivables from provisional concentrate sales	676		—		676		—


Marketable equity and other securities	389		389		—		—
Restricted marketable debt and other securities (Note 6)	14		14		—		—
Derivative assets (Note 11)	183		—		56		127
	$	10,305	$	9,446	$	732	$	127
Liabilities:
Debt (Note 15) (2)	$	5,151	$	—	$	5,151	$	—
Derivative liabilities (Note 11)	7		—		5		2

	$	5,158	$	—	$	5,156	$	2


	Fair Value at December 31, 2025
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents (1)	$	7,647	$	7,647	$	—	$	—
Restricted cash	37		37		—		—
Trade receivables from provisional concentrate sales	1,064		—		1,064		—
Long-lived assets	78		—		—		78
Marketable equity and other securities	740		740		—		—
Restricted marketable debt and other securities (Note 6)	13		13		—		—
Derivative assets (Note 11)	262		—		60		202
	$	9,841	$	8,437	$	1,124	$	280
Liabilities:
Debt (Note 15) (2)	$	5,283	$	—	$	5,283	$	—
Derivative liabilities (Note 11)	1		—		1		—
Other liabilities	339		—		339		—
	$	5,623	$	—	$	5,623	$	—

____________________________

(1)Cash and cash equivalents includes short-term deposits that have an original maturity of three months or less.

(2)Debt is carried at amortized cost. The outstanding carrying value was $5,083 and $5,115 at June 30, 2026 and December 31, 2025, respectively. The fair value measurement of debt was based on an independent third-party pricing source.

Schedule of Quantitative and Qualitative Information

The following tables set forth a summary of the quantitative and qualitative information related to the significant observable and unobservable inputs used in the calculation of the Company’s Level 3 financial assets and liabilities at June 30, 2026 and December 31, 2025:

Description

At June 30, 2026

Valuation Technique

Significant Input

Range, Point Estimate or Average

Weighted Average Discount Rate

Derivative assets:

Hedging instruments (1)

107

Income approach

Forward power prices

A$34 - A$478

6.88%

Contingent consideration assets

Income approach

Forward gold prices

$4,370

—%

Derivative liabilities (1)

Income approach

Forward power prices

A$34 - A$478

6.88%

____________________________

(1)Consists of the Cadia power purchase agreement ("Cadia PPA") which was in a current liability and a non-current asset position at June 30, 2026; refer to Note 11 for further information.

Description

At December 31, 2025

Valuation Technique

Significant Input

Range, Point Estimate or Average

Weighted Average Discount Rate

Long-lived assets

Market-based approach

Various (1)

Derivative assets:

Hedging instruments

162

Income approach

Forward power prices

A$37 - A$703

7.00%

Contingent consideration assets

Income approach

Forward gold prices

$4,254

—%

____________________________

(1)Comprised of the nonrecurring impairment charge incurred on the Yanacocha Sulfides project equipment for the year ended December 31, 2025. The significant input to the fair value measurement included an estimated recoverability percentage of the original purchase order value of the equipment expected to be realized upon sale, which was based on completed sales up to December 31, 2025.

Schedule of Changes in the Fair Value of the Company's Level 3 Financial Assets

The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:


	Derivative Assets		Total Assets		Derivative Liabilities		Total Liabilities
Fair value at December 31, 2025	$	202	$	202	$	—	$	—

Fair value changes in Other comprehensive income (loss)	(55)		(55)		2		2
Settlements (1)	(20)		(20)		—		—

Fair value at June 30, 2026	$	127	$	127	$	2	$	2


	Derivative Assets		Total Assets		Derivative Liabilities		Total Liabilities
Fair value at December 31, 2024	$	142	$	142	$	6	$	6
Acquired through divestments (2)	252		252		—		—

Fair value changes in Other comprehensive income (loss)	47		47		(1)		(1)
Fair value changes in Other income (loss), net	(3)		(3)		—		—
Fair value at June 30, 2025	$	438	$	438	$	5	$	5

____________________________

(1)In the first quarter of 2026, the Company received the first deferred payment of $20 related to the sale of the Musselwhite reportable segment. Refer to Note 3 for further information.

(2)The Company acquired contingent consideration assets as part of the divestitures that occurred in 2025. Refer to Note 3 for further information.

Schedule of Changes in the Fair Value of the Company's Level 3 Financial Liabilities

The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:


	Derivative Assets		Total Assets		Derivative Liabilities		Total Liabilities
Fair value at December 31, 2025	$	202	$	202	$	—	$	—

Fair value changes in Other comprehensive income (loss)	(55)		(55)		2		2
Settlements (1)	(20)		(20)		—		—

Fair value at June 30, 2026	$	127	$	127	$	2	$	2


	Derivative Assets		Total Assets		Derivative Liabilities		Total Liabilities
Fair value at December 31, 2024	$	142	$	142	$	6	$	6
Acquired through divestments (2)	252		252		—		—

Fair value changes in Other comprehensive income (loss)	47		47		(1)		(1)
Fair value changes in Other income (loss), net	(3)		(3)		—		—
Fair value at June 30, 2025	$	438	$	438	$	5	$	5

____________________________

(1)In the first quarter of 2026, the Company received the first deferred payment of $20 related to the sale of the Musselwhite reportable segment. Refer to Note 3 for further information.

(2)The Company acquired contingent consideration assets as part of the divestitures that occurred in 2025. Refer to Note 3 for further information.

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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